Zacks Investment Research upgraded shares of Biohaven Pharmaceutical (NYSE:BHVN) from a hold rating to a buy rating in a research report sent to investors on Friday. The brokerage currently has $33.00 target price on the stock.
According to Zacks, “Biohaven Pharmaceutical Holding Company Ltd. is a biopharmaceutical company. It focuses on the identification and development of orphan neurologic indications and other neurological pathways. The company’s pipeline includes BHV-0223, which is a formulation of a glutamate-modulating agent; BHV-4157, which is a new chemical entity that modulates glutamate and BHV-5000, which is an in-licensed investigational agent of the Company targeting N-Methyl-D-Aspartate receptor antagonism which are in clinical trial stage. Biohaven Pharmaceutical Holding Company Ltd. is based in NEW HAVEN, United States. “
Other equities analysts have also issued research reports about the company. Canaccord Genuity reaffirmed a buy rating on shares of Biohaven Pharmaceutical in a report on Wednesday, March 7th. Needham & Company LLC reaffirmed a buy rating on shares of Biohaven Pharmaceutical in a report on Thursday, February 22nd. BidaskClub lowered Biohaven Pharmaceutical from a sell rating to a strong sell rating in a report on Tuesday, November 14th. Finally, Piper Jaffray Companies set a $48.00 price objective on Biohaven Pharmaceutical and gave the stock a buy rating in a report on Monday, December 11th. One research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company’s stock. Biohaven Pharmaceutical has a consensus rating of Buy and a consensus target price of $38.57.
In other news, VP Kimberly Gentile sold 5,000 shares of the stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $27.60, for a total transaction of $138,000.00. Following the completion of the sale, the vice president now owns 5,000 shares in the company, valued at $138,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Robert Berman sold 10,000 shares of the stock in a transaction dated Tuesday, December 19th. The stock was sold at an average price of $24.10, for a total transaction of $241,000.00. The disclosure for this sale can be found here. Insiders have sold 802,976 shares of company stock valued at $22,953,575 in the last quarter.
Several institutional investors and hedge funds have recently made changes to their positions in BHVN. Nationwide Fund Advisors acquired a new stake in shares of Biohaven Pharmaceutical during the third quarter worth about $214,000. State of Wisconsin Investment Board acquired a new stake in shares of Biohaven Pharmaceutical during the third quarter worth about $262,000. American Century Companies Inc. acquired a new stake in shares of Biohaven Pharmaceutical during the third quarter worth about $1,375,000. Alps Advisors Inc. acquired a new stake in Biohaven Pharmaceutical in the third quarter valued at about $1,316,000. Finally, New York State Common Retirement Fund acquired a new stake in Biohaven Pharmaceutical in the third quarter valued at about $710,000. Institutional investors and hedge funds own 61.84% of the company’s stock.
About Biohaven Pharmaceutical
Biohaven Pharmaceutical Holding Company Ltd. is a United States-based biopharmaceutical company. The Company is engaged in the identification and development of clinical-stage compounds targeting orphan neurologic indications and other neurological pathways. It has a portfolio of multiple late-stage drug candidates.
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